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Ethereum Price Analysis: ETH falling towards 100 dollars? – Coinnounce

Ethereum Price Analysis: ETH falling towards 100 dollars?

MACD – Back in the bearish zone.

RSI – Moving lower towards the 20 level.

Support Level – $110

Resistance Level – $130

Key Points

  • ETH price neglected to move over the $135 and $136 levels against the US Dollar.
  • There is another key bearish pattern line-shaped with resistance at $127 on the hourly diagram of ETH/USD.
  • The pair is as of now under strain and it could quicken decays underneath the $120 level.

Ethereum price is confronted a crisp round of offering against the US Dollar and bitcoin. ETH/USD broke the $120 low and it could quicken further misfortunes.

Ethereum Price Analysis

Recently, we saw a minor upside revision in ETH price from the $122 support against the US Dollar. The ETH/USD pair adjusted over the $130 and $132 levels. The price likewise moved over the half Lie retracement dimension of the last slide from the $145 high to $121 swing low. Be that as it may, the upside, the move was topped by the $135 a $136 resistance levels.

Purchasers additionally neglected to break the 61.8% Lie retracement dimension of the last slide from the $145 high to $121 swing low. Additionally, there is another key bearish pattern line-shaped with resistance at $127 on the hourly outline of ETH/USD. Obviously, the pair neglected to pick up force over the $136 level and declined. The ongoing drawback move was with the end goal that the price broke the $124 and $122 support levels. All the more essentially, the price exchanged to new yearly low beneath $120. It appears as though dealers are back and they could push the price further lower towards the $115 or $110 levels in the close term.

ETHUSD 1 day chart

ETH price likely finished a transient revision from the $122 support. It neglected to pick up pace above key resistances close $136 and $140, bringing about a crisp decrease. Purchasers should be watchful thinking about the current market feeling and break beneath $120.

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Janet F. Sanchez

Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

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